Russian President Vladimir Putin has instructed the Government of the Russian Federation to ensure that legislation is amended to establish the specifics of the exercise by foreign investors of the right to repurchase shares or shares in the authorized capitals of companies after February 22, 2022 on non-market terms, ensuring the protection of the interests of Russian citizens and legal entities that own these shares or shares. The corresponding instruction of the head of state is posted on the Kremlin's website.
The Cabinet of Ministers should also prepare amendments to legislation establishing the procedure for approving transactions, as a result of which entrepreneurs from unfriendly countries acquire the right to dispose of shares or stakes in companies, as well as real estate for the purpose of conducting business.
Consideration should be given to the circumstances of the termination or continuation of entrepreneurial activity by these persons in the Russian Federation after February 22, 2022.
Amendments to legislation should provide for the need for persons from unfriendly foreign countries to accept financial obligations and provide them with other guarantees for the fair and responsible conduct of business in the Russian Federation.
It is supposed to consolidate the priority of the interests of domestic business entities that began or continued business activities in the Russian Federation in the relevant fields after February 22, 2022.
